Stock Market News for October 30, 2009 – Market News
Zacks Market Commentaries (October 30th, 2009) Writes:
U.S. stocks rose strongly Thursday, reversing a four-session losing run, after a government report said the economy grew more than expected in the July-September quarter. Investors shunned Treasuries and jumped back into stocks after the report signaled the economy had emerged from the worst recession since the 1930s.
The positive surprise was enough to propel benchmark indexes to their biggest advance since July and send safe havens like Treasuries and dollar lower. Caterpillar Inc. (NYSE:CAT) and Alcoa Inc. (NYSE:AA) advanced at least 5.1% after the Commerce Department said the economy returned to growth following four straight quarters of decline. Crude prices jumped $2.44, or 3.1%, to $79.87 and gold was up $16.50 to $1046.40.
The S&P 500 registered its biggest one-day gain since July 23, jumping 2.2% to close at 1,066.11. The 30-share Dow Jones industrial average shot up by 199.89 points, or 2.05%, at 9,962.58 and the tech-heavy
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